ENGIE : Profit warning not a complete surprise and probably hides good potential – Buy vs Neutral
>Approx.-20% expected in 2020 EPS and c.-10% for 2022 - Yesterday evening, Engie announced the suspension of its guidance for 2019 (payable in 2020), initially expected at € 0.80 per share, and the shelving of its guidance for 2020 and 2022 due to the coronavirus crisis. The company did not commit itself to a new profit forecast at this stage but we estimate the impact at around 20% for 2020 EPS and c.10% for 2022. Forecasting without a safety net. Main i...Engie is an industrial group, based in France, active in the fields of gas, electricity, energy services and the environment. Co. is an energy provider across the entire energy chain, in electricity and in natural gas, including: purchase, production and commercialization of natural gas and electricity; transport, distribution, management and development of major natural gas infrastructures; design and commercialization of energy services and environment-related services. Co.'s activities are conducted through five segments: Energy Europe, Energy International, Global Gas and LNG, Infrastructures, and Energy Services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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